Based on panel data of 214 licenses to construct small hydropower plants, we examine whether uncertainty with respect to the introduction of a market for renewable energy certificates affected the timing of investments in Norway from 2001 to 2010. Using regression analysis, we find that (1) investors owning a portfolio of licenses acted in accordance with a real options investment rule, and unc...

While partial energy transitions have been observed in the past, the complete transition of a fossil-based energy system to a sustainable energy one is historically unprecedented on a large scale. Switching from an economy based on energy stocks to one based on energy flows requires a social paradigm shift. This paper defines Sustainable Energy Transition (SET) and introduces a set of five prop...

Many governments who preside over liberalised energy markets are developing policies aimed at promoting investment in renewable generation whilst maintaining the level of security of supply customers have come to expect. Of particular interest is the mix and amount of generation investment over time in response to policies promoting high penetrations of variable output renewable power such as w...

An often-overlooked source of marine renewable energy is the energy available from salinity gradients. The potential resource for the osmotic pairing of fresh water and seawater is estimated at 2.6 TW. Several concepts have been proposed. Obviously, any scheme to desalinate seawater can be operated in reverse. Recent developments in pressureretarded osmosis, vapor compression, reverse dialysis ...

Although conventional energy resources are widely used for electricity generation globally as well as in Turkey, the renewable energy resources that do not deteriorate environmental quality and economic efficiency are increasingly favored to meet the energy demands in a sustainable way. Alternatively, limitations on land availability and high initial investment costs impede the development of r...

Island electricity systems tend to rely heavily on the use of fossil fuels for the everyday supply of customer needs, so there are both significant economic and environmental benefits from the decarbonisation of these systems. One such key global environmental benefit is the anticipated reduction in CO2 emissions and its associated effects on climate change. In recognition, many islands are alr...

Description Liberalised electricity markets represent a delicate equilibrium between regulatory targets to keep prices at acceptable levels and keeping prices high enough to ensure adequate return on investment for generation companies. From the viewpoint of the generation company, these capacity investment decisions are highly complex. Electricity prices are volatile which, instead of a guaran...

We examine public policies and technological solutions that aim to decarbonize electricity production by replacing fossil fuel energy by intermittent renewable sources, namely wind and solar power. We consider a model of investment and production with two sources of energy: one is clean but intermittent (wind or solar), whereas the other one is reliable but polluting (thermal power). Intermitte...

Tranforming energy systems to fulfill the needs of a low-carbon economy requires large investments in renewable electricity production (RES-E). Recent literature underlines the need to take a closer look at the composition of the RES-E investor group in order to understand the motives and investment processes of different types of investors. However, existing energy policies generally consider ...

In this study a mixed integer linear programming (MILP) model is created for the design (i.e. technology selection, unit sizing, unit location, and distribution network structure) of a distributed energy system that meets the electricity and heating demands of a cluster of commercial and residential buildings while minimising annual investment and operating cost. The model is used to analyse th...